Nike Inc. has given Chief Executive Mark Parker a $30 million stock award to stay with the athletic gear maker for at least the next five years.
Lauding the company’s “strong performance under Mr. Parker’s leadership,” and to provide an incentive for the top executive to stay at the Oregon-based company, Nike’s [fortune-stock symbol=”NKE”] compensation committee decided to grant Parker a restricted stock award with a target value of $30 million.
That award is far higher than the stock grants Nike typically gives Parker in any given year. Annual stock awards for the executive have hovered around $3.5 million in recent years, and total compensation in the past three years have been about half of the stock award Nike gave Parker.
Nike said 60% of the award’s maximum value is based on the company’s performance.
Since Parker became CEO in early 2006, Nike’s shares have surged 438%, far exceeding…
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